Zacks Investment Research upgraded shares of Key Energy Services, Inc. (NYSE:KEG) from a sell rating to a hold rating in a research note published on Wednesday morning.

According to Zacks, “Key Energy Services, Inc. is an onshore, rig-based well servicing contractor. The company’s services include drilling and workover rigs, coiled tubing, frac stack and well testing, fluid services, onshore and deepwater fishing and rental services. It operates primarily in United States, Mexico, Colombia, Ecuador, the Middle East and Russia. Key Energy Services, Inc. is headquatered in Houston, Texas. “

KEG has been the topic of several other reports. Nomura set a $17.00 target price on Key Energy Services and gave the stock a hold rating in a report on Friday, August 11th. Piper Jaffray Companies set a $27.00 target price on Key Energy Services and gave the stock a buy rating in a report on Wednesday, August 9th. Johnson Rice initiated coverage on Key Energy Services in a report on Thursday, September 21st. They issued an accumulate rating on the stock. Evercore ISI reaffirmed an in-line rating and issued a $11.00 target price on shares of Key Energy Services in a report on Tuesday, September 5th. Finally, Seaport Global Securities cut Key Energy Services from a buy rating to a neutral rating and reduced their target price for the stock from $26.00 to $19.00 in a report on Wednesday, June 21st. Six investment analysts have rated the stock with a hold rating and two have given a buy rating to the company’s stock. The stock currently has a consensus rating of Hold and an average price target of $18.17.

Key Energy Services (NYSE KEG) opened at 13.17 on Wednesday. The stock has a 50 day moving average price of $13.48 and a 200-day moving average price of $19.19. The stock has a market capitalization of $264.76 million and a PE ratio of 2.54. Key Energy Services has a 12-month low of $8.00 and a 12-month high of $38.00.

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Several hedge funds have recently modified their holdings of the company. Energy Opportunities Capital Management LLC bought a new stake in shares of Key Energy Services in the second quarter worth about $559,000. California State Teachers Retirement System purchased a new position in Key Energy Services in the second quarter worth about $352,000. TVR Capital Management LP purchased a new position in Key Energy Services in the second quarter worth about $979,000. The Manufacturers Life Insurance Company grew its position in Key Energy Services by 46,163.6% in the second quarter. The Manufacturers Life Insurance Company now owns 10,178 shares of the oil and gas company’s stock worth $195,000 after acquiring an additional 10,156 shares in the last quarter. Finally, State Street Corp purchased a new position in Key Energy Services in the second quarter worth about $2,174,000. 50.19% of the stock is currently owned by hedge funds and other institutional investors.

Key Energy Services Company Profile

Key Energy Services, Inc is an onshore, rig-based well servicing contractor. The Company provides a range of well services to oil companies, foreign national oil companies, and independent oil and natural gas production companies. The Company operates in five segments: U.S. Rig Services, Fluid Management Services, Coiled Tubing Services, Fishing and Rental Services, and International.

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Analyst Recommendations for Key Energy Services (NYSE:KEG)

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